Chesterton Tribune

Coats opposed to debt bill

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Sen. Dan Coats, R-Ind., issued the following statement regarding the Budget Control Act of 2011.

“Considering Majority Leader Harry Reid and President Obama control two-thirds of the government, I believe the Republican leadership in the House and Senate made meaningful strides in negotiations to cut spending without raising taxes on Americans.

“However, after reviewing the details of the Budget Control Act, I have decided that I cannot support its passage.

“Although this plan is a step in the right direction, I believe it falls significantly short of what is needed to address the severity of this financial crisis. For months, I have been saying that a credible plan must include at least $4 trillion in spending reductions over a decade and a commitment to restructure entitlement programs and the tax code.

“Unfortunately, the bill cuts as little as $2.1 trillion over 10 years and fails to ensure action on reforming entitlement programs and the tax code. The legislation also puts national security at risk with potentially sizable budget cuts. I also believe this puts too much confidence in a special congressional committee to finish the work that Congress and the White House were unable to do. I hope this committee returns with more substantial cuts and real reforms, but frankly, I remain skeptical.

“Though I cannot support this bill, my sleeves are rolled up and I will continue to work to rein in government spending, reform the tax code to create jobs, and restructure entitlement programs to preserve these benefits for Americans.

“The chorus of Americans calling for fiscal restraint in Washington forced an unwilling president and reluctant congressional Democrats to at least acknowledge the government’s excessive spending and borrowing problem. This is important progress, but now it’s time for Congress to deliver real results.”

The U.S. Senate was set to vote on the legislation today.


Posted 8/2/2011




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